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An invitation to take advantage of the experiences of foreign banks operating in Iraq

28/08/2014

Economists called for the need to expand the scope of work of the branches of foreign banks in Iraq, so that their work does not remain confined to the financial transfer to foreign companies operating in the country.

The director of the Association of private banks Abdul Aziz Hassoun in a statement to Radio Free Iraq, "the government should take advantage of the existence of branches of foreign banks in Iraq to provide financial support to large enterprises, medium and thus support and development of the Iraqi economy."

While stressing director of financial management and planning in the Ministry of Finance, Hilal Taan on the need to benefit from the experiences of foreign banks operating in Iraq, and to integrate its work with Iraqi banks, for the development of the banking sector in Iraq.

In the same context to draw former adviser to the Iraqi Central Bank Mazhar Mohammad Saleh that "foreign banks operate according to a system of liberal Mali requires activation of its branches in Iraq through the creation of an association of foreign banks operating in coordination with the Association of Iraqi banks," stressing "the need to support and not neglected in order to Aaaud of Iraq to the circle of economic isolation from the world. "

The 18 branches of foreign banks operating in Iraq, mostly banks of countries in the region: Lebanon, Iran, Turkey, and European banks have expressed interest in opening branches in Iraq to facilitate the work of companies, countries where security but security conditions have prevented it.